The Bahamas Investor

...raded and one of the finest harbours in the region. All these factors make Freeport ripe for growth.” Miller, who has over 30 years experience in the hotel sector, believes Grand Bahama needs an “anchor project” to breathe new life into the destination and raise its profile in an increasingly competitive market. “There has been no investment in Grand Bahama for eight to 10 years,” he says. “The island needs a major anchor project to come and attra......

...rther three years with an obligation to start drilling an exploration well by April 2015. The company expects to meet this obligation, subject to financing via a farm-out agreement, with an exploration well in the southern licences anticipated in the second half of 2014. The licences nominally comprise four three-year terms. The company said the requirements of the first term, which concluded on 26 April 2012, were all considerably exceeded. Under......

...opportunities for The Bahamas’ financial services economy,” said Minister for Financial Services Ryan Pinder addressing members of the Bahamas Association of Compliance Officers (BACO) this week. “Many countries in Latin America have experienced growth at a time when other countries have receded. We are positioned to be the gateway to the Americas. It is important that The Bahamas positions itself to be a mover in this market.” The Minister also......

...and uneven economic growth was a concern of all the panelists. With growth forecasts coming in at 1 to 3 per cent, there is concern that this will fall short of national needs. “I am worried about the ‘new normal’ and the much more competitive environment with attracting foreign investment funds,” said Michael Halkitis, a chartered financial analyst and member of the senate. “There will be big challenges going forward.” On the subject of national......

...ns to give them standing to pursue third party claims by litigation.” If a foreign-owned company–incorporated in The Bahamas with substantial assets and business activities elsewhere–went bankrupt, an offshore liquidator would have to commit a large amount of time and resources in investigating the company’s bookkeeping records, identifying and securing assets, while establishing a means of correspondence with creditors and investors. “Given that......

...rket presence in Florida and The Bahamas.” Saab 340Bplus aircraft features comfortable seating for 34 passengers, large, easy-to-access overhead bins, personalized flight attendant service and an active noise reduction system, according to the airline. Silver Airways will integrate all 12 of the planes into its fleet by September 2012. Each aircraft will be subject to a period of inspection and certification under US and Bahamian aviation regulati......

...ve over $10 million in operating costs and expects to meet its projected income estimates by the end of the financial year, according to chief executive officer Geoff Houston (pictured). “We have achieved some significant spend reductions,” said the CEO as he outlined the company’s plan to restructure the business and pass on savings to customers. “We expect that BTC will make a profit this year. Our parent company is very pleased with our perform......

...re also attending the event, which is titled Development Co-operation, Win for All, and examines how China could invest in partnerships throughout the region. Staff at the Embassy of the People’s Republic of China present Vice Premier of the State Council of the People’s Republic of China, Wang Qishan, with flowers upon his arrival at Lynden Pindling International Airport. At centre is Ambassador Joshua Sears, Director General, Ministry of Foreign......

...ction manager of Mode Îles, special features being introduced into the new format will include presentations by architects and interior designers. Frenes, a former Versace director with his own furniture line, says the presentations will highlight these professionals contribution to fashion and style. Meantime, the growth in demand for products showcased during previous events prompted organizers to launch the online magazine, ExÎles, and its acco......

...leum Company Plc (BPC) has confirmed speculation that Simon Potter is to become the company’s next chief executive officer (CEO). Potter, who has over 30 years experience in the oil and gas industry with companies such as Hardman Resources and Arrow Energy International, will take over as CEO next month, following the resignation of Dr Paul Crevello earlier this year. BPC director Steve Weyel says: “The breadth and depth of Simon’s commercial and......

...of global economic governance to encompass the views of all countries, and for Commonwealth nations, supported by the Commonwealth Secretariat, to develop an increasingly inclusive process of global governance. The next Commonwealth Heads of Government Meeting (CHOGM) will be held in Perth, Australia, 28-30 October 2011, under the theme of Building National Resilience, Building Global Resilience. scotterill@dupuch.com Finance Ministers from the Co......

...urther with a new campaign, launched last month. The campaign, spearheaded by Miami-based marketing and communications firm Grupo bt USA , hopes to increase the volume of visitors by at least 50 per cent through increased marketing. The campaign carries the slogan Bahamas, No lo has visto todo, literally translated as: The Bahamas, you haven’t seen everything. Announcing the launch of the campaign, Grupo chief executive officer Carlos Ulibarri sai......

...plications, interviewing short-listed candidates and then making a final recommendation for the board’s consideration and approval. The high-profile position involves managing and executing strategic development programme’s to enhance The Bahamas’ competitive advantage as “the wealth and asset management gateway to the Americas.” Moreover, the new CEO will monitor and execute programmes in-line with the BFSB’s mandate as the national agency respon......

...will be able to display and sell indigenous Bahamian handicrafts. However, the prime minister did not offer a timeframe for when work would commence on this latest initiative. tblair@dupuch.com......

The newly privatized Bahamas Telecommunications Company (BTC) plans to open around 50 retail stores by the end of March 2012, giving customers easier access to products, calling plans and other services, according to BTC chief executive officer Geoff Houston. Shops will be spread throughout The Bahamas, with the flagship store located at Marathon Mall on New Providence, which is expected to be open before the end of the year. “We are designing th......